Tamedia, a private media group in Switzerland, announced on Monday that it is investing in Lykke, a Swiss blockchain company founded by former OANDA CEO Richard Olsen. With the investment, the media group wants to support the startup in its growth.
Lykke is a global marketplace that aims to facilitate the free exchange of financial assets. The marketplace has more than 90,000 registered accounts. Since its inception, the total trading volume that has been transferred via Lykke is $1.5 billion.
According to a statement issued by Tamedia, the company wants to help the global marketplace grow and develop further. However, the statement did not disclose the value of the investment made. The media group also added that it plans on making further investments in fintech in the future. Specifically, it identified fintech as a new growth area in its ventures sector.
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Samuel Hügli Joins the Board of Directors of Lykke
With the investment Samuel Hügli, the current Head of Technology and Ventures at Tamedia has joined Lykke as a member of its board. Commenting on the investment, he said: “with its marketplace for cryptocurrencies Lykke offers an exciting product with great potential.”
“With our investment, we will benefit from Lykke’s know-how in Fintech and Blockchain and we will support the growth of the start-up specifically through our expertise in marketing, product development and B2C space. This cooperation could also lead to the development of innovative offerings for our customers, such as new payment services for Tamedia products.”
Richard Olsen, Founder and CEO of Lykke added: “We are delighted to have Tamedia on board as a new investor and we welcome Samuel Hügli to our Board of Directors. Tamedia has successfully held its ground throughout the digital transformation and with this investment the company shows confidence in Lykke’s vision. Our collaboration with Tamedia will allow us to successfully move our business forward.”